Closing Brief

US indexes closed somewhat weak, with yet another opening bounce having largely failed, sp +8pts @ 1857. The two leaders - Trans/R2K, settled +0.5% and u/c respectively. Near term outlook remains a break <1830, which will open up the target zone of 1800/1790.


sp'60min

Summary

So.. a pretty weak afternoon of minor chop, after yet another opening bounce. Not exactly a full reversal, but..it'll do.
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Considering the number of chances the bulls have already had to break >1883, I just can't see them doing it..before the bears get at least some kind of mini washout..to 1800/1790.

*I remain heavy short across the weekend.

Have a good weekend everyone!
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*the weekend post will be on the US weekly indexes